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Foreign Exchange

For private clients

If you want to invest internationally, make payments overseas, receive money from offshore or need foreign currency to travel, Investec can assist with all your foreign exchange requirements.

Three channels to send money offshore

The global Client Support Centre

Your Private Banker

Investec Online which features a new international payment functionality, with real-time exchange rates, to complete the international payment

Get currency easily

Order foreign exchange within 60 days of your departure

We’ll deliver it within 48 hours or have it waiting for you at ORT

Use your Investec Visa card at retailers worldwide and withdraw cash at any Visa ATM

Assistance with SARB allowances

We can assist you with your application to SARB for allowance extensions, including your foreign investment and single discretionary allowances.

Receive money from abroad easily

If you're receiving money from overseas, we can facilitate the transfer of your funds from a foreign country into your Investec Private Bank Account, conveniently and efficiently.

48

The average number of hours it takes for you to receive your travel currency, from time of order.

10

Our fraud rate and credit decline is approximately 10 times less than the Visa industry average.

‘I am so impressed with the online payment functionality. Not only had someone preloaded the beneficiary 100% correctly for me, the functionality was intuitive and the entire transaction was concluded with no issues.’

Download important documents

If you plan on receiving money from abroad you will need to give the sender of the funds Investec’s SWIFT/BIC code. Please download here:

Download our SWIFT details here

Download Forex requirements here

Download FX correspondent banks table here

Annual allowances

Expand your investment portfolio internationally by using your foreign allowance of R10 million. This is an annual allowance for all SA citizens. Use your annual R1 million single discretionary allowance for travel, investment, monetary gifts, loans and subsistence for students studying abroad (and other uses).

Moving funds abroad

If you're moving to another country, we can assist and guide you in your exchange control application to the Reserve Bank, and move your funds offshore.

Omnibus facilities

Let us assist you with omnibus facilities for business and corporate travel. This ensures an individual’s personal allowance isn’t affected when travelling for business.

International transfers and receipts
Effective from 1 August 2017

All payments

Fee % (applied to the Rand value of the deal)

Min fee (incl. VAT)

Max fee (incl. VAT)

Making/receiving a payment in Currency

0.55%

R 175

R 700

Making/receiving a payment in Rand

0.65%

R 175

R 700

All payments

Fee % (applied to the Rand value of the deal)

Min fee (incl. VAT)

Max fee (incl. VAT)

Making/receiving a payment in Currency

0.55%

R 175

R 700

Making/receiving a payment in Rand

0.65%

R 175

R 700

Fees are calculated as a percentage of the rand value of the deal subject to the minimum fee and limited to the maximum fee as indicated above

Additional fees

Additional fees

Conditions

Fee (incl. VAT)

Rand transaction fee

Fee levied on Rand deals irrespective of SWIFT instruction

R 175

Offshore change for outward payments

Fee levied should the client request Investec to pay for offshore bank charges

R 175

Returned/ Incorrect payment

Fee levied on payments where the wrong details have been used

R 230

Additional fees

Conditions

Fee (incl. VAT)

Rand transaction fee

Fee levied on Rand deals irrespective of SWIFT instruction

R 175

Offshore change for outward payments

Fee levied should the client request Investec to pay for offshore bank charges

R 175

Returned/ Incorrect payment

Fee levied on payments where the wrong details have been used

R 230

Travel currency

Option

Type

Fee % (incl. VAT)

Min fee (incl. VAT)

Cash (foreign notes)

Buy or repurchase

2.17% (incl. VAT)

R 160

Option

Type

Fee % (incl. VAT)

Min fee (incl. VAT)

Cash (foreign notes)

Buy or repurchase

2.17% (incl. VAT)

R 160

Fees are calculated as a percentage of the rand value of the deal subject to the minimum fee

Foreign Currency Account Payments effective from 1 March 2018

All payments Fee (incl. VAT)

Making a payment from your Rand account to your Foreign Currency Account R175

Making a payment out of your US Dollar foreign currency account $13

Making a payment out of your GB Pound foreign currency account £10

Making a payment out of your Euro foreign currency account €11

Fees are debited from the account where the payment is being made in the currency of the account. Should the client request Investec to pay for offshore bank charges when making an offshore payment out of an Foreign Currency Account and additional fee of $13, £10 or €11 relating to the currency of the account will be charged.

Contact our global Client Support Centre available 24/7/365

Other foreign exchange services

Disclaimer

Investec Private Banking, a division of Investec Bank Limited registration number 1969/004763/06. Investec Private Banking is committed to the Code of Banking Practice as regulated by the Ombudsman for Banking Services. Copies of the Code and the Ombudsman's details are available on request or visit www.investec.co.za. A registered credit provider registration number NCRCP9.